Chart: Retirement Plan Access in All 50 States

Source: Pew Charitable Trusts

Source: Pew Charitable Trusts

The Pew Charitable Trusts released a report Wednesday analyzing retirement plan access and participation in the United States.

One chart (see above) maps the percent of each state’s population that has access to a retirement plan through their employer. In terms of regions, the Midwest and the Northeast have the highest rates of plan access; Texas, Florida and New Mexico lag far behind.

From Pew:

Because of the differences in retirement plan access and participation across the United States, legislators should consider the unique social and economic features of each state as they try to expand retirement saving through the workplace. For example, certain states have more workers at small businesses or in industries with relatively high turnover. Policymakers will need to balance the goal of increasing retirement savings against the challenges and concerns that such firms face. Other states have higher shares of minority workers who may benefit from targeted outreach materials to expand participation in new or existing plans. Taking these types of characteristics into account can help policymakers improve retirement security while balancing the needs of both workers and employers.

Another chart (see below) maps plan participation; participation rates follow a similar pattern as access rates.

Read the full report here.

Source: Pew Charitable Trusts

Source: Pew Charitable Trusts

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